GBP/CHF looking good for next week

Very simple setup this time. GBP/CHF broke the ascending channel, and if you follow us on our different social media platforms you know that we took this trade and we got out of it because we knew that a retest is coming after reaching the 100% Fibonacci Extension level.

After retesting the trendline, we expect GBP/CHF to continue its way to the downside to possibly reach the 100% Fibonacci Extension level at (1.27309) as a first target.

It is so important to use your Fibonacci Extension and Retracement to be able to know where to place your TPs, and also to be able to anticipate when the price could reverse in the opposite direction.